Saudi mining giant Ma’aden eyes rare earths partnership

Saudi Arabian mining institution Ma'aden is successful the process of selecting an planetary institution to found a uncommon earths processing partnership, aiming to presumption the kingdom arsenic a captious minerals hub, reported Reuters, citing 3 sources acquainted with the matter.

The institution is evaluating imaginable collaborations with MP Materials from the US, China's Shenghe Resources, Australia's Lynas Rare Earths oregon Canada's Neo Performance Materials.

Ma'aden plans to finalise its determination by the extremity of June. The companies volition make plans for some a uncommon earths processing installation and a consequent magnet accumulation installation wrong Saudi Arabia.

The chosen spouse volition collaborate with Ma'aden to survey the astir effectual methods for mining and processing the kingdom's abundant mineral reserves. The survey is expected to beryllium completed by December.

Saudi officials astir doubled the estimated worth of the kingdom's mineral reserves to $2.5trn (SR9.38trn) past year, chiefly owed to the inclusion of uncommon world elements.

While Ma'aden and MP Materials person refrained from commenting, Lynas has acknowledged its ongoing discussions with emerging uncommon earths companies globally.

Among the contenders, Shenghe and Neo person acquisition successful uncommon earths processing and magnet production.

The refinement of uncommon earths, a radical of 17 chemically akin metals, is simply a analyzable and environmentally challenging process. The hunt for much businesslike methods is ongoing, fixed the intricate separation required for these metals.

China's dominance successful the uncommon earths refining industry, controlling astir 90% of the planetary capacity, underscores the strategical value of Saudi Arabia's move.

Saudi Arabia's absorption connected mining aligns with Crown Prince Mohammed Bin Salman's Vision 2030, which aims to diversify the system beyond its accepted reliance connected oil.

The state is ramping up its beingness successful the planetary minerals proviso concatenation done large investments and strategical partnerships.

Under its National Investment Strategy, it plans to put $9.32bn successful smelting projects with India’s Vedanta and China’s Zijin.

The kingdom’s sovereign wealthiness money backs US-based electrical conveyance shaper Lucid, which opened a Saudi works successful 2023.

The state has besides signed memorandums of knowing with Hastings Technology Metals and Critical Metals for uncommon world and lithium projects.

In February 2025, Ma’aden secured $1.25bn from its archetypal Islamic enslaved issuance, a cardinal measurement successful its $12bn enlargement program done 2030.

"Saudi mining elephantine Ma’aden eyes uncommon earths partnership" was primitively created and published by Mining Technology, a GlobalData owned brand.